According to CoinDesk, Libre, a tokenization-focused startup and joint venture between Brevan Howard’s WebN Group and Nomura’s Laser Digital, is integrating several blockchain-based funds into the Solana network. This includes the debut of the Hamilton Lane SCOPE fund, the Brevan Howard Master Fund, and the Blackrock ICS Money Market Fund. This move marks the first institutional alternative real-world asset (RWA) fund to appear on Solana.
Libre’s expansion to Solana has already garnered close to $20 million in total locked value (TVL) prior to its public launch. The company’s tokenization gateway will provide users with access to these on-chain funds for the first time. This development is part of a growing trend where large asset managers, including BlackRock, are embracing public blockchains to tokenize existing financial assets.
Libre initially established its blockchain funds offering using Polygon CDK, a layer-2 chain for Ethereum. However, the move to Solana is significant due to its capabilities in increasing transaction throughput and reducing latency. Libre CEO Avtar Sehra highlighted Solana's importance in secondary trading, noting that the company plans to launch secondary trading services later this year.
Money market funds have become valuable to institutional traders in the crypto space, offering additional yield from stablecoin holdings. The Hamilton Lane SCOPE fund, for instance, offers higher yields of around 9%. Victor Jung, head of digital assets at Hamilton Lane, stated that this launch would expand access to the strong returns and performance opportunities within private markets, while also increasing efficiency and transparency for all investors.
